SSS, RCBC team up to widen digital microloans
The Social Security System (SSS) and Rizal Commercial Banking Corp. have signed a memorandum of understanding to expand digital access to short-term credit, rolling out the pension fund’s LoanLite facility through RCBC’s mobile platform.
Luzon Grid under yellow alert due to power plant outages
The Luzon power grid was placed under a yellow alert from 4 p.m. to 10 p.m. on Thursday, April 16, due to several power plants going offline.
Jollibee wins Korea nod for Shabu All Day
Jollibee Foods Corp., the Philippines’ largest fast-food chain, said it has secured regulatory approval in South Korea for its planned acquisition of All Day Fresh Co., Ltd., the company behind the “Shabu All Day” hot pot chain, marking a key step in expanding its presence in one of Asia’s most competitive dining markets.
PAL expands US network with new non-stop service to Chicago
Philippine Airlines (PAL) will launch a new nonstop flight between Manila and Chicago starting November 9, expanding its network in the United States. Chicago becomes PAL’s eighth U.S. and U.S. territory destination, alongside Honolulu, Los Angeles, San Francisco, Seattle, New York, Guam, and Saipan.
War relief steps may dent banks’ earnings outlook
Relief measures for Philippine borrowers hit by the ongoing Middle East conflict may steady credit conditions but are likely to trim banks’ profitability, according to an April 16 report by S&P Global Ratings.
